Alphaland allots P2.2 billion for Makati project
BUILDER Alphaland Corp. is investing P2.2 billion for the “Makati Place” development that will feature three high-end components: a hotel, two-tower condominium, and The City Club exclusive lifestyle facility.
Joanna Duarte, vice president for sales and marketing, said the condominium component alone is expected to rake in P5 billion in revenues.
The two-tower condominium will have a total of 540 fully fitted units, with prices ranging from P8 million to P20 million. About 30 percent of the units are already sold since the company started pre-selling late last year.
“We are not in a hurry to sell the units because the money that we need to complete the project is already there. And once finished, the prices will be higher,” Duarte told the BusinessMirror.
The hotel component will be a high-end all-suite facility while the City Club will be a three-story hub that will feature fine-dining restaurants, watering holes and cafés, as well as high-end conference rooms, sporting facilities and recreational areas for kids.
Duarte said construction of the project started last year. The six-floor podium housing the City Club and mall is expected to be completed by the end of the year, while the hotel and condominium components is scheduled to be finished by 2014.
Makati Place is on a one-hectare property on Ayala Avenue Extension, which Alphaland calls the New Makati and is expected to be the next site of the central business district’s expansion.
“Because of its prime location, The City Club will be a key destination once it opens its doors—it will be the place where New Makati plays,” said Duarte. “Whether they live in Makati or not, members can come here and relax after work or even during their lunch break. It’s the perfect place for waiting for traffic to clear.”
In Photo: newest leisure complex Jose Luis Ongpin, Alphaland Corp. vice president for sales, and Joanna Duarte, vice president for sales and marketing, look at the scale model of Alphaland’s City Club in Makati City. The 20,000-square-meter City Club is an all-in-one leisure complex with three floors for fine-dining restaurants, upscale bars and cafés, expansive sporting facilities and recreational areas for kids—the most amenities found in one club, giving its members best value for their money. (Nonie Reyes)